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Stock Market & Financial Investment News

News Breaks
February 13, 2013
09:22 EDTHLITHarmonic receives letter from Voce Capital
Voce Capital sent a letter to the board of directors of Harmonic calling for immediate action to address "the company’s inefficient capital structure and flawed capital allocation processes." Voce’s letter to the Harmonic Board states: "[A]s we have expressed in these previous meetings, we have significant concerns that we believe the company does not fully appreciate nor is it moving rapidly enough to address. These include the most urgent issue, its bloated balance sheet and inefficient capital structure." Voce argues that Harmonic should deploy at least half of its current cash balance to repurchase immediately a significant number of shares outstanding through a tender offer, in addition to maintaining the company’s recently announced open market repurchase plan. Voce’s letter concludes that it is considering nominating directors at the upcoming annual meeting of Harmonic shareholders.
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November 11, 2014
08:09 EDTHLITHarmonic makes strategic investments in cloud companies
Harmonic announced that the company has made significant investments in Encoding.com, the world's largest video transcoding service, and VJU, one of the first companies to provide cloud-enabled playout solutions to the broadcast and pay-TV industries. Having a financial stake in Encoding.com and VJU strengthens Harmonic's ability to offer highly flexible and scalable cloud-based services that provides amazing video quality and dramatically simplified cloud-based operations. In addition to making a significant equity investment in VJU, Harmonic has signed a reseller agreement with the company, through which Harmonic will distribute its cloud playout solutions to the broadcast and pay-TV industries. VJU plans to use the Harmonic funding to continue making enhancements to its core product, expand cloud-based playout infrastructure, enhance quality of service, and support and grow its partnership network.

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